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Thursday, April 21, 2011

Day trading course price levels Day traders S&P500

Day trading course price levels Day traders S&P500.  Friday the futures market is closed.  Three day weekend for S&P500 day traders.  These are the price levels we reached this week and day trading targets for this next week as we round the week out in four days of trading. [caption id="attachment_3705" align="alignleft" width="300" caption="Day trading course price levels S&P500 day trading"]Day trading course price levels S&P500 day trading[/caption] We tested the support on the Extreme low on the S&P500 emini future.  We put this support in from the beginning of the month with a top side extreme target of 1362 we are expecting sometime soon. The poing of control on this move up is around 1333.  Buyers attemepted control on the S&P500 in the morning with sellers consolidating the price action in the small 6 point consolidation Zone. Day traders hit alot of resistance on1334-35 ans support just under the 1330 level.  A frustrating day for most unless you are like us and finished by 1030 - 11:00 am market time. Looking for another test on the support to 1325 and a low of th 1318, before moving on to the high side targets at 1340 and then on to the extreme high.  

S&P 500 day trading course

Tuesday, April 12, 2011

Day trading course S&P500 day trading tips targets

Day trading course S&P500 day trading tips targets for support and resistance.  Day trading the S&P500 emini futures contract. [caption id="attachment_3701" align="alignleft" width="300" caption="day trading course targets day trading tips"]day trading course targets day trading tips[/caption] Bearish Channel on the 30 min Chart testing down to the supporting trend line.  Point of control is 1313.25 support at 1309.75 , 1305 then 1298.50 . Could keep consolidating in this area and then another test on resistance in the afternoon session.  IMF asked the US to reduce the debt.  Could it be a possibility?  What will happen in our markets with out the Fix supplied by quantitative easing? Could be a choppy low volume day.

S&P 500 day trading course

Monday, April 11, 2011

Day trading course short term targets day trading tips

Day trading course short term targets day trading tips on the S&P500 emini futures. [caption id="attachment_3694" align="alignleft" width="300" caption="day trading course short term targets"]day trading course short term targets[/caption] Watch for head fakes in this area as we are stuck in this consolidated range to 1330.  Point of control is 1328 and sellers are in control. Resistance coming in at the swing high of 1330.25 and then the previuos high of 1336 . Support coming in  1325 then 1322 and 1319. Looking for mostly consolidation in this area. The US government came up to a compromise on the spending plans, averting a shutdown of the government and the Dollar regained some lost ground after weakening most of last week. The Dollar hasn't been able to strengthen as desired after the news as risk-appetite continues to dominate strongly with the high-yielding currencies and commodities forming new highs against the Dollar. The concern was centered on the risk of a total government shutdown; gains in the greenback were trimmed before Fed's Yellen speaks on the economic outlook and monetary policy. Yellen said April 9 that the U.S. recovery doesn't warrant a reduction in the central bank's record monetary stimulus and defended a plan to buy $600 billion in Treasury securities through June. Most analysts see no recovery for the dollar in coming months on expectations the Fed will delay raising rates after the end of its asset-purchase program  

S&P 500 day trading course

Day trading course up day day trading tips

Day trading course S&P500 emini futures we are in a consolidated range from 1320 to 1338.  We have been at the bottom of the range and looking for an up day. [caption id="attachment_3690" align="alignleft" width="300" caption="Day trading course Up day ahead day trading tips"]Day trading course Up day ahead day trading tips[/caption] Watch for the break out to the top side. Point of Control is 1328.

S&P 500 day trading course

Friday, April 8, 2011

Day trading course Before the bell price action day trading tips

Day trading course Before the bell price action day trading tips for the S&P500 emini futures.  We ran down to support and the market has a chance to rally into the close or consolidate at these levels. [caption id="attachment_3684" align="alignleft" width="300" caption="day trading tips before the bell price action"]day trading tips before the bell price action[/caption] support is at 1320 and 1310 the Point of control is 1326. Sellers moved in and brought the market down in the lunch hourwith 650000 contracts traded in the 3 hours before the close.  Market volume is quite low with most traders gone for the weekend. Could see some closing out of positions going into the weekend as there is a bit more volatility in Saudia Arabia and disturbing news coming out of Libya. The point of control today gave some support and could be acting as a headfake to the support at 1319-20.  Watch yourself here in to the close as it might seem like a good place to reverse. Next week we are looking for test to new highs.  Wait for the turn on a longer term chart on this move down.   Remember, we dont know if it is oversold until it turns......  

S&P 500 day trading course

Day trading course S&P500 weekly chart targets

Day trading course S&P500 weekly chart targets.  We are in a bullish channel on the approach to our previous highs.  The charts are showing a possibility of a continuation to the upside. [caption id="attachment_3677" align="alignleft" width="269" caption="Day trading course weekly chart targets day trading tips"]Day trading course weekly chart targets day trading tips[/caption] The S&P500 emini futures and the S&P500 large contract are in a long term  bullish channel.  We are presently in an area of consolidation moving out of a bullish Flag pattern. Normally we are looking for a double top to occur within this next week's candlestick.  This week could end in a doji, reflecting trader indecision on direction.  We are above the point of control so buyers have taken the market from the sellers. We have an upside target of 1421 if we break through the resistance at the double top.  Watch for the test this next week. We do have support near by at 1296-1303.  A lot of congestion in this area. If we get a lower high on this move up we could see some momentum if there is a sell off to 1265. This Channel is quite strong, we shall see. Remember, this is a longer term chart, we can see the major tendency of buyers and the direction we have.  There is about a 60 point swing in the channel andwe are in the mid point. Join us in Calgary for a day trading course this next weekend.

S&P 500 day trading course

Wednesday, April 6, 2011

Day trading course notes to my traders.

[caption id="attachment_3673" align="alignleft" width="183" caption="day trading - falling off my bike"]day trading - falling off my bike[/caption] Hello traders,   have you ever fallen off a bike? Most of us who have ridden a bike have fallen off at least once.  Trading is the same.  Most of us that are long term traders, some times "fall off of the bike" too. Trading is one of the most dynamic environments you will ever be involved in.  It traps the mind in to thinking that there are rules that will work all the time,  That you are making mistakes and don't know what you are doing. It really feels like it accelerates life. I received an email this week from a student that fell off the bike a few years ago, she said that she is willing to get back on and that for some reason, she doesn't have the "self destroying expectations" that she had before.  She went on to tell me that she has been taking some of our system trades at lunch time and is profitable "just a little bit" but she feels more confident this time. Giving yourself the space to "ease into" being a trader sometimes takes a few hard falls on your bike.  Are your expectations of your self keeping your from getting on the bike again?  What if you could relax those a bit, so you can practice pedaling a bit more? Any one else getting back up? I would like to commend her on the first competency of a trader, "Courage".  The courage to get back up after taking a fall. email me if you would like a hand getting back on the bike. Joel PS. this applies to things outside trading too. An outside comment,  Don't trade sick.  I had this driven home this week as I [...]

S&P 500 day trading course

Day trading course S&P500 day trading tips 60 min chart

Day trading course S&P500 day trading tips 60 min chart Price action on the S&P500 emini futures contract. [caption id="attachment_3670" align="alignleft" width="286" caption="Day trading course "]Day trading course S&P500 day trading tips[/caption] The S&P500 emini has moved up on decreasing volume.  When volume decreases after a move up we will normally end up in a consolidated range. The only low volume moves that we experience is in the after hours when many of the supports and resistances have been tested making it easier to move through in Regular trading hours.   The point of control is at 1331.25 and as of now sellers are in control.  Watching for support to come in at the 50MA 1328.50 with more support just under this in a small congestion zone to 1327. Continuing support at the swing low at 1323.75 then 1320 area on the red 200 MA.   More Resistance will come in at the point of control on the way back up and at previous swing high levels around 1336-1338.  If we see a break of this swing high then our next resistance will be coming in at 1341.  After this we are looking at a longer term extreme high of 1356.25 to 1362.50. A quick trading tip for any of you fighting a cold or just feeling down.  Stay out of trading.  It will be an expensive lesson for you until you are better.  Remember 90% of this is the psychology of using your edge in this market place.  If you are sick or feeling down, it is better to get healthy so you can use your edge. Trade what you see. Day trading course in Calgary April 16 - 18 , join us.  

S&P 500 day trading course

Friday, April 1, 2011

Day trading course S&P500 Friday Closing targets

Day trading course S&P500 Friday Closing targets [caption id="attachment_3665" align="alignleft" width="286" caption="day trading course approaching support"]day trading course approaching support[/caption] S&P500 emini futures contract going into the  close.  Buyers were in control for most of the morning with a nice upswing to just below previous highs. I am watching for this to test down to the 1324.50 area one more time before the close and then to move back to the point of control. Point of control is 1329. support at 1323.75-1324.50 then 1321 and 1315 and extreme low of 1308.25 Point of control will be initial resistance.  Watch for swings between 1324.50 and 1328.5 this is the area where the market makers will shark you out of your money looking for a break out.  More than likely will be a head fake. Last 15 minutes to have volatility as the boys who can't get home early are taking last minute buys and sells.  Could be a little crazy. Look for a close under 1330. We shall see. Have a great weekend, will post new levels on Sunday night. April 2nd will have a free trading meeting in Toronto.  Join us.  

S&P 500 day trading course

Day trading S&P 500 emini futures live trading room and day trading course's Fan Box